Income when retired

[John Bone]

I'm a newbie so try and be a little tolerant. I'm also retired and interested in a regular income.
I've been reading Blueprint to Wealth and can see the benefits of those recommendations.
As "anything can happen" where is the surety of an income if the "anything" does happen?
You can certainly see why the bank stocks are so popular!
Having money in cash is high risk in the long term but necessary in the short term.
Where should it be parked in the short term? How much to set aside to cash?
Three years worth of living expenses?
Buy an investment property for the rental return?
What percentage should be allocated to the Blueprint to Wealth strategy after incorporating the above?

[Jeffrey Walters]

I have just noticed this post and can relate to it a bit. Yes I have also heard that 3 years of living expenses should be set aside but where to put it? At the present there are plenty of stocks returning really good divs BUT what happens if they drop in value - you still need to keep drawing the income. In my case I feel the best solution is to have an investment property with an offset account. Park your 3 years of income in the offset account and draw down on that offset account each month to live off. Every year from your SMSF place the next 12 months back in to the offset account. This way you cash is protected and you are receiving a reasonable return on your money (mortgage interest rate). Hope this helps someone.